In August, major tech firms experienced market value declines due to rising AI costs, recession fears, and individual company factors.

In August, major tech firms saw declines in market values amid rising AI infrastructure costs and recession fears. Alphabet's value fell 4.7% due to weaker YouTube ad sales and an antitrust ruling. Amazon dropped 4.5%, and Tesla decreased by 7.7%. Nvidia also fell 7.7%, meeting revenue expectations but projecting lower margins. Conversely, Eli Lilly's market surged nearly 20%, and Berkshire Hathaway surpassed $1 trillion in market value, while Meta's increased due to strong ad revenue.

September 02, 2024
74 Articles